Articles on Taxation

Legislative agenda item: Alternative minimum tax Federal Taxation, September 2006 DISCLAIMER: The following comments are the individual views of the members of the Federal Taxation Section Council of the Illinois State Bar Association and do not represent the position of the Illinois State Bar Association.
Legislative agenda item: Estate Tax Repeal Federal Taxation, September 2006 DISCLAIMER: The following Comments are the individual views of the members of the Federal Taxation Section Council of the Illinois State Bar Association and do not represent the position of the Illinois State Bar Association.
Liaison meeting with Congressional legislative aides—Discussion issue: Employee misclassification Federal Taxation, September 2006 DISCLAIMER: The following discussion and comments are the individual views of the members of the FEDERAL TAXATION SECTION COUNCIL of the Illinois State Bar Association and do not represent the position all of the Illinois State Bar Association.
Tax Increase Prevention and Reconciliation Act of 2005: Summary of individual income tax provisions By Thomas F. Arends Federal Taxation, September 2006 On May 17, 2006, President Bush signed into law H.R. 4297, the Tax Increase Prevention and Reconciliation Act of 2005.
Taxation of compensatory damages for emotional distress and loss of reputation is unconstitutional By Michael R. Lied Labor and Employment Law, September 2006 Good lawyering sometimes shakes up the law. Consider Murphy et al. v. Internal Revenue Service, et al. 2006 WL 2411372 (CA DC 2006).
State tax advisory State and Local Taxation, August 2006 Using a drop shipper can be quite taxing according to the Tennessee Appellate Court which recently upheld an assessment of uncollected sales use tax from a non-Tennessee business (ARCO) that utilized Tennessee manufacturers to manufacture and ship products to Tennessee customers. The products were single story metal buildings.
Substantial tax penalties can be avoided by the proper tax reporting of damage awards and settlements By Stanley R. Kaminski State and Local Taxation, August 2006 Nowadays, every mid- to large-size business and government agency has encountered the problem of paying out damage awards or settlements to third parties as a result of claimed contract violations, torts and other actions, as well as amounts paid to their employees for alleged labor law, civil rights, and other violations.
Amusements can be a taxing part of the game of life By Julie-April Montgomery State and Local Taxation, July 2006 The most common Illinois tax on entertainment is an amusement tax.
Illinois legislation corrects income tax bonus Depreciation Modifications By David J. Kupiec & Natalie M. Martin State and Local Taxation, June 2006 On May 19, 2006, Governor Blagojevich signed House Bill 2706 (Public Act 94-0776) - a Bill put forth as a Department of Revenue technical correction to primarily address various issues concerning the Illinois income tax bonus depreciation provisions.
Individual income tax update By Richard M. Colombik & Linda Godfrey Federal Taxation, June 2006 In Comm’r v. Banks, 543 U.S. 426; 125 S. Ct. 826 (2005), the Supreme Court held that a taxpayer’s gross income from the proceeds of litigation included the portion of the damages recovery that was paid to his attorneys according to a contingent fee agreement.
Internal Revenue Service Liaison Update By Katie S. Beard Federal Taxation, June 2006 The following is a summary of select materials presented by the author at the 2005/2006 Federal Tax Law Ed Program in Chicago and Springfield.
Tax and trust fund issues By Richard M. Colombik & Linda Godfrey Business Advice and Financial Planning, June 2006 A look at the legal difficulties that business owners may encounter when corners are cut with the Internal Revenue Service.
Gross revenue tax: Will Illinois be next? By Stanley R. Kaminski State and Local Taxation, May 2006 Currently, Texas has a Franchise Tax with an Income Tax component somewhat similar to the Illinois Income Tax. Essentially, under this Income Tax component, Texas only taxes the net income of a corporation that is apportioned to Texas.
The Historic Residence Assessment Freeze Law (Residential Properties) By Mary Ann Connelly State and Local Taxation, May 2006 The Historic Residence Assessment Freeze Law, formerly known as the Property Tax Assessment Freeze Program entitles the owner of a landmark residence to real estate tax relief upon completion of a rehabilitation project.
Recent developments regarding retirement and welfare benefit plans By Karen N. Brandon Federal Taxation, April 2006 Qualified retirement plans under IRC § 401(a) must now follow Revenue Procedure 2005-66 to apply for determination letters from the IRS.
Review of 2005 Hurricane Tax Relief legislation By Donna F. Hartl Federal Taxation, April 2006 The Gulf Opportunity Zone Act of 2005 (“GOZA”) was signed on December 21, 2005. GOZA supplements the Katrina Emergency Tax Relief Act of 2005 (“KETRA”) and grants tax relief to individuals and businesses affected by Hurricanes Katrina, Rita, and Wilma. GOZA also includes technical corrections to 10 tax acts.
Does your foreign, international or interstate business have a hidden and costly state tax liability? By Stanley R. Kaminski State and Local Taxation, March 2006 Contrary to common belief, a foreign, international or interstate business, including a foreign subsidiary of a domestic company, may have a state tax liability even if such business does not have an office in a state, but it has an employee, agent or third-party representative traveling into a state. 
Estate and gift tax update By Sarah Delano Pavlik Federal Taxation, March 2006 New Amounts for 2006. The following amounts became effective on January 1, 2006:
Internal Revenue Service Liaison Update By Thomas F. Arends Federal Taxation, March 2006 IRS Announcement on Tax Lien Filings and Releases: The editorial staff of the newsletter would like to inform members of the Federal Taxation Section that Mr. Thomas Arends of the Section Council currently serves as liaison for the Section to the Internal Revenue Service.
News from the IRS By Sarah Delano Pavlik Federal Taxation, March 2006 Political Campaign Intervention. On February 24, 2006, the IRS released a report on its examination of political activity by tax-exempt organizations during the 2004 election campaign.
The successor liability aspects of a tax bulk sales in Illinois By Julie-April Montgomery State and Local Taxation, March 2006 It is often said that when a new owner of a business comes along it prefers to buy the assets of the business so as to avoid liability for the seller’s obligations that could arise as the result of a stock sale.
Tax incentives for historic residences By David Dwyer Young Lawyers Division, February 2006 Significant real estate tax incentives are available for owners of historic buildings in Illinois
What’s in a word? The right to avoid paying taxes on someone else’s property is abolished for administrative convenience By Mark R. Davis State and Local Taxation, February 2006 This article considers the problems the legislature has created for taxpayers by a little-noticed technical amendment, and its probable unconstitutionality.
Recent decisions in real estate tax cases By Timothy E. Moran State and Local Taxation, January 2006 In re Application of the County Treasurer (H&H Investments v. Green Tree Servicing, LLC), Appellate Court, Third District, Docket No. 3-04-0777, 2005 WL 2841145, October 28, 2005.
The tax that seems to continually generate money—cigarette taxes (Or at least that appears so for the present) By Julie-April Montgomery State and Local Taxation, January 2006 To smoke or not to smoke. Who really cares today? As far as government is concerned, to smoke is to give generous “sin tax” money to state and local governments.
The 25th Annual State & Local Taxation Conference By Alexander P. White State and Local Taxation, December 2005 The 25th Annual State and Local Taxation Conference of the National Conference of State Tax Judges took place in Cambridge, Massachusetts on Thursday, September 29 through Saturday, October 1, 2005.
Attacking tax deed orders: Recent developments By Matthew A. Flamm State and Local Taxation, December 2005 It is critical for a party seeking to contest a tax deed order to do so either before the order is entered or within 30 days thereafter.
The Illinois Department of Revenue Practitioner’s Meeting, September 30, 2005 State and Local Taxation, November 2005 Q and As from the most recent meeting.
Deferred compensation plans: How the new bankruptcy law affects them and an update on IRC Section 409A By Donna F. Hartl Federal Taxation, October 2005 As most people are aware, a new bankruptcy law goes into effect October 17, 2005.
Federal individual income tax update By Michelle L. Heller Federal Taxation, October 2005 Passing the House and Senate on September 21, 2005, this Act provides $6.11 billion in tax incentives to aid or encourage donations to the victims of Hurricane Katrina.

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